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May 15 - 03:55 PM

GBP/USD - Firm Amid USD Haven Unwind As Bulls Gear Up For Key UK Jobs Data

By Paul Spirgel  —  May 15 - 01:35 PM
  • GBP$ firm into NY cls, +0.65% at 1.2529, NorAm range 1.2532-1.2503

  • Sterling rallies amid dour US data ahead of key UK jobs report nL1N37C1HK

  • Bank ETFs KBE, IAT +2.5% hint bank crisis ebbing; NY Fed Mfg data soft

  • USD haven flows unwind despite hawkish Bostic, Kashkari comments

  • GBP$ supt at bruised 30-DMA (1.2490), but holds in low 1.2440s, for now

  • More support at Apr 10 low 1.2346, 55-DMA 1.2335

  • Res 1.2534-40 Fri-Mon high, 10-DMA 1.2560, upper 30-d Bolli 1.2635

  • EUR/GBP -0.43% at 0.8679, Mon range 0.8718-0.8678; double-digit inflation to keep BoE on hawkish tack

Source:
Refinitiv IFR Research/Market Commentary

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